HELP getting refund for Tenant Loans set up fee

[JamieStapleton]

Hi all,

 

My mother being the impatient person she is has hastily paid £49.95 to Tenantloans.com as an arrangement fee for their services to arrange a loan. She has thankfully decided to not pursue an extortionate tenant loan and now has asked for the arrangement fee back.

 

Tenantloans have advised her that she needs to send a letter claiming her reasons for wanting the refund. FYI her reasons were that they made claims that they could provide loans at a certain APR which have not been correct, which she has subsequently refused.

 

She has since sent two letters asking for refund to which they have replied with non-related letters offering different loans. She has made it very clear that the loans are unwanted and that she wants a refund instead.

 

I have suggested a final letter threatening legal action if a refund is not granted, is this ok? If so, what should be included in the letter? Is there a legal wording I can quote to back up my mums case?

[rosiecotton]

First of all, have they actually offered your mother a loan which was for the amount she had been asking for? What sort of loan was she actually seeking, and what did they offer her?

 

If she specifically asked for a loan for a certain amount and for a certain APR, and they said they could do this, she then paid the arrangement fee and what they have subsequently offered her is not what was promised, then your mother is not obliged to go ahead with that loan.

 

They are entitled to keep a £5 administrative fee but if they cannot offer a suitable loan based on what was agreed, this is all they can keep.

[JamieStapleton]

Yes they said to her on the phone that she could have a certain loan at x% APR and it turns out they can only offer her a loan a higher APR rate. What I need is some legal advice regarding wording for the letter I will get her to send threatening legal action

[rosiecotton]

Okay what you need is something like the below:

 

Dear Sir

 

Failure to provide suitable loan

 

I recently entered into a contract with you to find me a loan for [amount] at a reasonable APR of [amount]. I paid you a fee of £49.95 for this brokerage service. However, you have failed to provide me with a suitable loan and therefore I am claiming a refund of £44.95, which should be returned to me by Friday 8th December 2006 [or reasonable date].

 

Section 155 of the Consumer Credit Act 1974 states that brokers may not keep more than £5 of the arrangement fee if they are not able to introduce the consumer to a suitable loan. The loans you have offered me are not suitable as they do not match my requirements, made clear to you when I entered into this contract.

 

I look forward to receiving my refund shortly.

 

Yours faithfully

 

 

******

[rosiecotton]

Further info: http://www.oft.gov.uk/NR/rdonlyres/1C38C648-A833-4147-A554-8761468B8E1F/0/oft301.pdf

 

Note that the legislation says six months but in this case, and being familiar with this firm, I'd say it was worth writing the above letter regardless of the timescale.

[JamieStapleton]

Exactly what I needed, thankyou!

 

[pauluk]

Hi Jamie

 

Been reading your thread with some interest, I had a simular experience and was directed to (consumer direct) call them on 0845 404 0506

 

The more people complain against them the better........

 

Yours Pauluk

[tiaposy]

Interesting - I did the same with Yes Credit - £50.00 paid and they directed me to Welcome Finance!! Their initial letter said APR of about 8%, then welcome said 29% so I will definately be sending them a letter!!!

[salfordric]

Can i clarify has any1 actually ever got a loan from Tennant Loan, Advantage Loans, Yes Loans. As far as I can see they just give you numbers of finance companies out the phone book. I applied for a loan with them paid £49 got nowhere, asked for money back which i was told wud have 2 wait 6 months. Not having that I thought so I got on to my bank and disputed the visa transaction and got it back. Bit naughty I know but not as naughty as tempting people with promises of loans that are basicly false.

[Peepo]

Dammit, looks lik they are dogy then, I had a feeling thats what they did, just directed you to companies that will turn you down anyway.

So, thats that out the window then

[salfordric]

Another thing ive discovered about them is that when you apply through them they submit your application to loads of different lenders who all then perform credit checks individually on you, that obviously creates loads of footprints on your credit file which isnt good. Most so called brokers do a credit check themselves and use the information to place you with a lender not tennant loans, basically all they do is pick numbers out the phone book and you pay £50 for basically receiving no service what so ever. I would give them a very wide birth if i were you.

[keithy]

Hi all,

I just payed £49.95 today which i couldnt really afford but assumed i could put it back when i got my loan. Within minutes of coming off the phone i started to querie the conversation and method of getting a loan and it didnt seem quite right(hence i googled the companies payment method and here i am). I really thought i was getting a loan from the way they answered my questions, but i now realised they never actually said they would guarantee me a loan, they just seemed to avoid direct answers and worked around my questions.They never promised me an interest rate or any amount, but if they cant get me a loan of £3000 that i requested will i still be entitled to my money back or can i just kiss goodbye to the money and put it down to experience.

[salfordric]

i got my money back from them, just ring your bank and query the card transaction if they dont give it you back which they wont, i know its a bit naughty doing that but what they are doing is misleading and taking advantage of people who are unable to get credit from regular sources. To my mind that makes up 4 a little white lie to your bank!!!

[jackieandwayne]

Just a quickie before the office - mysister last Fiday handed over £50 to the fraudsters and told me about it afterwards. She needed to borrow £3000 as she has not beenable to take her case to court yet for her bank charges and was relying on getting that money. Anyway she showed me the letter they sent saying she could have this loan with repayments of £70.71 over 5 years, if she paid £50 - they apparently take a further £ for Julia; Hospice, a charity. She rang them back andpaid her $50 and says she specifically asked before she paid if they were going to give her this loan. She says she was told, "we wouldn't be taking your moiney for nothing!" Then she got papers in the post from FLM, this is Tenant Loans sister company, the APR was 29%. She also received a letter from then telling her to apply to the Halifax! And get this, if she wanted the loan she had tohave a gurantor! She couldn't fit the criteria, and she was not told at any stage that she would need a guarantor. She rang and asked for her money back and they refused, with FLM stating they did not deal with FSA!

 

Anyway, I looked on here and saw the template letter which I copied and e-mailed to them, but I also told them they would be reported to FSA, taken to Small Claims Court,m once they had complied with the forthcoming SAR request so that my sister could show the court they had done no "brokering" whatsoever! I told them that if they didn't comply with that we'd set the Data Protection people on to them.

 

I received an e-mail back saying I had to put my complain in writing! They couldn't possibly deal with a electronic letter! They got a suitable reply from us telling them that their foolishness was cutting into their deadline to refund this money, which I stated should be back insis's account by today. Low and behold, they sent an e-mail back toconfirm a cheque was on its way minus the £5 they were allowed to keep and the £ that my sister was forced to give to Julia's Hospice,

 

I now intend to complain to the FSA about them, they are ripping off poor people, I will also let Julia's HOSPICE KNOW the sort of company they are allowing to name them on their paper etc!

 

Anymore ideas? I am so cross with both my sister and this bloody company!

[jackieandwayne]

Just to confirm, you can get your money back from these people, and my sister got her cheque for £44 on Saturday. I have to say though this was after the company;s customer services tried every which way to stop her getting it - even to the point of denying they had to have dealings with FSA and OFT! One female at FLM the sister company even told her she didn't know what she was talking about! She might not, but I did! It was minus the £5 they are legally allowed to keep, and of course the donation to Julias Hospice which she doesn;t mind at all.

 

On the other thread a guy who says he works for these people has provided his e-mail and promises a refund to anyone who is unsatisfied -so I suggest people e-mail him when they find out that they are not going to get as loan at all.

 

Anyone else, stay away and don't hand over any money to anyone who says they can get you a loan.

[jackieandwayne]

A quick update and further warning - sister is now getting letters from these people offering her a credit card for £49.95 I am almost tempted to give the £50 to her to see what happens! It is a different company name, but the give away is the local postcode, and also on every bit of company paper they support Julia's Hospice, a well known local charity. We have no problems with the charity, its been based in a particular area here for some years and does seem to do extremely good works - or so we thought - being a little bit suspicious we are wondering now whether these loan sharks and the charity are run by the same person? Only a suggestion and have absolutely no proof but it could be?....

 

Anyway, people, please don't part with your much needed money, you'll get nothing from these companies.

[jackieandwayne]

Just a quick addition to this thread - it seems that Tenant Loans have now gone into the mighty realm of helping people to claim back bank charges - below is an email I received today, I think it is self explanatory! I also think they hiding the fact from people that all cases are stayed at present! So, the usual thing, they will take their money and the consumer will get zilch! I'm going to send a reply e-mail pointing this out to them without mentioning this site!

 

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[Tenant Loans]

Hi JackieAndWayne

 

Just to confirm Tenant Loans did not send you that email.

 

TenantLoansUK.com are a completely different company located in a different part of the country. We have no affiliation with them, they just have a similar name to us.

 

We do not deal with Bank Charges.

[jackieandwayne]

We wonder then, do you sell a mailing list to other companies? My sister only applied to yourselves, no-one else, and ever since that debacle, which is done and dusted, she has been bombarded by e-mails and phone calls and letters from companies such as yourselves ie., have a credit card, get a loan, have your bank charges won for you - all for a lovely fee of £50 or so. And as we already know very few people get any of these products. I don't believe she gave you permission to pass her details to other companies.

[Nucarina]

so, does anybody ever have anything nice to say about tenantloans.com?

it has been a while since this thread started and maybe they have sorted things out by now? because i'd quite like a loan... x

[emmabri]

I have had the same problems, one with advantage loans setup fee, no loan, and dilly me i thought a credit card would be easier to get, cgs credit cards, they just sent me websites to apply like capital one, i paid £50 for them to do what a goolge search could of done, i seriously think these companies should be reported to watchdog, i have made a complaint to them myself, i think anyone who reads this should do aswel and then maybe people wont be getting worse credit scores and false hopes.

Lets cut out these companies, am sure they'll change their ways if their broadcasted on watchdog.

[salfordric]

i supose it depends how you paid the fee. I paid by visa over the phone. I supose its a bit naughty but when they refused to refund me I contacted my bank and disputed the transaction. I got a full refund within days. If i had allowed tennant loans to deal with it i doubt i ever wouold have got my money back

[Poor-Credit Borrower]

Nucarina, I don't think so. Unfortunately I have parted with £50 to these people and have been trying to get my money back. See a related thread: 'tenant loans, no credit check, fast pay out. YE RIGHT!!!!'

[Poor-Credit Borrower]

Thank you for the reply that was e-mailed to me re Tenant Loans. I tried to take Salfordic's advice and query the transaction through the bank. Unfortunately that was unsuccessful, even though my bank cancelled that debit card and sent me another one. The transaction, together with several more legitimate transactions including the mortgage, was at first reversed. But then the company must have insisted to my bank that it was a perfectly bona fide transaction. I had said it was fraudulent as the company do not really do what they say they do. I did not actually lie and say that I never gave them my debit card details in the first place (maybe I should have done, in this case)? Anyway, I shall try to claim the £49.95 less the £5.

[Poor-Credit Borrower]

By the way, I have had several phone messages to contact "Yes Loans" for a loan. Should I just not bother and give them a wide berth?